One Type of Individual Life Policy Escaped the Spring Sales Blahs
September 6, 2018 by Allison Bell
Insurers have reported dull U.S. individual life sales in the second quarter, but sales of indexed universal life (IUL) policies sparkled.
Insurers have also reported solid growth in the number of variable universal life (VUL) policies sold, but the average amount of annualized premiums per new VUL policy sold fell about 5%.
LIMRA has published one set of life sales numbers in a new quarterly life data bank report.
Wink Inc. has published another set of life sales numbers here.
Where the Numbers Come From
Both LIMRA and Wink have based their numbers on the results of insurer surveys.
LIMRA offers a public summary that includes percentage change figures for universal life (UL), VUL term life, and whole life products, but not the underlying dollar value of the sales. LIMRA gives change figures for annualized premiums from new policy sales, the face amount of the new policies sold, and the number of new policies sold.
Wink’s public summary gives data on premiums from new policy sales for indexed life, UL and whole life products. The Wink figures for indexed life includes results for both IUL products and for indexed whole life products.
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